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Steel Dynamics (STLD) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Steel Dynamics (STLD - Free Report) closed at $94.72, marking a +1.58% move from the previous day. This change outpaced the S&P 500's 0.88% gain on the day. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, lost 3.76%.
Coming into today, shares of the steel producer and metals recycler had lost 8.72% in the past month. In that same time, the Basic Materials sector lost 7.06%, while the S&P 500 lost 0.38%.
Wall Street will be looking for positivity from Steel Dynamics as it approaches its next earnings report date. In that report, analysts expect Steel Dynamics to post earnings of $5.12 per share. This would mark a year-over-year decline of 23.92%. Meanwhile, our latest consensus estimate is calling for revenue of $5.54 billion, down 10.9% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $16.15 per share and revenue of $19.79 billion, which would represent changes of -28.79% and -11.12%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Steel Dynamics. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.18% higher within the past month. Steel Dynamics is currently a Zacks Rank #3 (Hold).
Investors should also note Steel Dynamics's current valuation metrics, including its Forward P/E ratio of 5.78. This valuation marks a discount compared to its industry's average Forward P/E of 7.6.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 56, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow STLD in the coming trading sessions, be sure to utilize Zacks.com.
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Steel Dynamics (STLD) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Steel Dynamics (STLD - Free Report) closed at $94.72, marking a +1.58% move from the previous day. This change outpaced the S&P 500's 0.88% gain on the day. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, lost 3.76%.
Coming into today, shares of the steel producer and metals recycler had lost 8.72% in the past month. In that same time, the Basic Materials sector lost 7.06%, while the S&P 500 lost 0.38%.
Wall Street will be looking for positivity from Steel Dynamics as it approaches its next earnings report date. In that report, analysts expect Steel Dynamics to post earnings of $5.12 per share. This would mark a year-over-year decline of 23.92%. Meanwhile, our latest consensus estimate is calling for revenue of $5.54 billion, down 10.9% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $16.15 per share and revenue of $19.79 billion, which would represent changes of -28.79% and -11.12%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Steel Dynamics. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.18% higher within the past month. Steel Dynamics is currently a Zacks Rank #3 (Hold).
Investors should also note Steel Dynamics's current valuation metrics, including its Forward P/E ratio of 5.78. This valuation marks a discount compared to its industry's average Forward P/E of 7.6.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 56, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow STLD in the coming trading sessions, be sure to utilize Zacks.com.